Factor in about 10% of the sale price to go towards closing costs (transfer taxes, commissions, attorney fee, etc) and miscellaneous expenses and you're at $625K so far - this is NOT including demolition costs, holding costs (taxes, utilities, insurance, management, etc), architectural drawings, surveys, building department filing fees, etc.That said, you may also want to consider the costs and potential benefits of adding sq ft. to the existing home and/or updating the home to potentially boost your sale price.All the best!

If there is no clear title, the property cant be transferred, unless you are willing to take a property with no clear title. 

You should be provided with a HUD sheet that breaks down all the expenses / credits on it, before the closing, you will have to pay county and state tax, filing fees, transfer tax, etc. 

You may be able to transfer your purchase option to another person, but that would need to be spelled out in your purchase option agreement, and you likely need the current owner's agreement to accept the sub-lessor as the transferee.You need legal advice here which I am not qualified to give.

The first person gave me a 200$ deposit via e-transfer after I told her we accepted her application.

I would like to be able to transfer her old 401K to our Solo 401K, so it would be worth including her officially in the business at least for that.  

I plan to move back to the West Coast (San Diego) for my next tour and would love to meet some local PC investors to partner with so I can continue investing in this area when I transfer.

I'm going to be transferring to northern California in a year so I was hoping to begin working right away in order to supplement my living expenses while I move onto a university.

Make sure you get a copy of the lease to ensure that the lease can be transferred to you after the sale (assuming you proceed with the deal).I hope I'm not bursting your enthusiasm, but unless you can get a better purchase price for this one, walk away.

Realize that many recorders of deeds have delays in filing deed transfers.